Monday, December 11, 2017

Is bitcoin a real currency? Everything should know before investing

Bitcoin, the virtual currency had been launched in 2009. But Now Bitcoin is the new trend in 2017.Everyone wants to invest in bitcoin. Bitcoin exchange rates are increasing highly. In this year its price is choosing nearly 1 Bitcoin equals to 17019.01 US Dollar. Which is great and it is increasing exponentially. Everyone wants to invest in it. But before going to invest in bitcoin you have to know what is bitcoin? Is Bitcoin a real currency?


what is bitcoin? 

Bitcoin, which is also called as a mobile currency or a cryptocurrency or virtual currency, was created in 2009 by Satoshi Nakamoto, whose identity is still unknown today. The main objective behind creating of the virtual currency was to enable quick and cheap online payments without using the traditional banking system .  Bitcoin gained in popularity when its price jumped from around 572.33 U.S. dollars in August 2016 to approximately 4,764.87 U.S. dollars in August 2017. Now in Dec 2017 it touching around 17019.01 US Dollar.

Is Bitcoin a real currency?

Money has the function of a medium of exchange, a unit of account,  store of value and a source of liquidity. Bitcoin has meet first three property but  lacks a source of liquidity. It is the first decentralized digital currency and it can be sent through the network. Because of increasing amount of internet banking bitcoin may be the easy form of payment. But till now it is not legalized in worldwide and few vendors are using it. Money has also properties like Durable, portable, durable, acceptable, limited in supply and uniform. but bitcoin satisfy few of them but lacks acceptable, portable property.

It has many advantages and disadvantages as well
Let's look at first before coming to conclusion.

  • It is portable
  • Easy to exchange
  • Exchange rates are high now like Gold
  • It isn't legal in worldwide
  • Create confusing around vendors because of common goods price will be price leading to five zero.
  • Every vendor isn't accepting it.
These are the advantage and disadvantage of Bitcoin. But it has lack of a source of liquidity. Which differs bitcoin from a real currency.It is kind of gold. As the price of gold reaches a stable point, we expect bitcoin price will reach steady point but bitcoin has many competitors so bubble may come.
So invest accordingly by observing the market. 

Stat credits : statista
1Abc Directory


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